Question

A man spends 25% of his monthly salary on Rent and 32% on Groceries. He invest remaining monthly salary in the ratio of 11: 5 in Mutual Funds and Fixed Deposits, If difference between his yearly mutual funds and fixed deposit amount is Rs 77400, then, find the amount he spends each month on Groceries products.

A Rs. 12800 Correct Answer Incorrect Answer
B Rs. 12000 Correct Answer Incorrect Answer
C Rs. 12300 Correct Answer Incorrect Answer
D Rs. 12500 Correct Answer Incorrect Answer
E Rs. 12820 Correct Answer Incorrect Answer

Solution

Let the monthly income be 100% Total monthly salary spends on rent and groceries = 57% Remaining salary = (100 – 57)% = 43% ratio between mutual fund and fixed deposit = 11 : 5 Monthly income = 77400/12 = 6450 difference between mutual fund and fixed deposit ratio = 6 Therefore, 6 ≡ 6450 1 ≡ 1075 1075 × 16(11 + 5) ≡ 43% (1075 × 16)/43% ≡ 32% 1 ≡ {(1075 × 16)/43%} × 32% = Rs. 12800

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